Wednesday, March 28, 2024
SJ Berwin advises British Land on sale and leaseback of Somerfield supermarkets
Corporate and commercial law firm SJ Berwin's real estate department has advised British Land on the sale and leaseback of a portfolio of eight Somerfield supermarkets for £20m.
The stores were in Cleethorpes, Immingham, Kirkby, Leeds, Banton Gorton (Manchester) and two in Scotland: Cumnoch and Hamilton. The leaseback rents are on 25 year RPI-linked leases.
The SJ Berwin team was led by real estate partner Lewis Myers, assisted by associate Jason Tann. Andrew Glynn and Simon East of TLT Solicitors acted for Somerfield.
The stores were in Cleethorpes, Immingham, Kirkby, Leeds, Banton Gorton (Manchester) and two in Scotland: Cumnoch and Hamilton. The leaseback rents are on 25 year RPI-linked leases.
The SJ Berwin team was led by real estate partner Lewis Myers, assisted by associate Jason Tann. Andrew Glynn and Simon East of TLT Solicitors acted for Somerfield.
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